$1,959 Closing Credit*
$165,000
1,175 SqFt
3 Beds
•2 Full Baths
David Pacheco, Listing Office: 3DX Real Estate-Brighton
Is Redford Charter Township, MI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2023
Since last year, Redford Charter Township has remained a Seller's Market.
Key Takeaway
Redford Charter Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Redford Charter Township, MI
How much do homes in Redford Charter Township, MI cost?
Median Sold Price
$170,000
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2023
+$16,766(+10.9%)
Key Takeaway
Homes in Redford Charter Township have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in Redford Charter Township was $170,000 in August 2024, up 10.9% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $50K | $55.5K | +11.0% |
| 2 Bedrooms | $107K | $120K | +12.1% |
| 3 Bedrooms | $155K | $172.6K | +11.4% |
| 4 Bedrooms | $200K | $195K | -2.5% |
| 5+ Bedrooms | $202.4K | $268K | +32.4% |
Summary: Redford Charter Township housing prices by bedroom type for August 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11%, 2 bedroom homes increased by 12.1%, 3 bedroom homes increased by 11.4%, 4 bedroom homes decreased by 2.5%, and 5+ bedroom homes increased by 32.4%.
Median Sold Price Compared To Nearby Cities
| Dearborn Heights | $177.6K | $205K | +15.4% |
| Redford Charter Township | $153.2K | $170K | +10.9% |
| Redford | $153.6K | $170K | +10.6% |
| Detroit | $77.5K | $85K | +9.7% |
| Southfield | $215K | $228K | +6.0% |
Housing Supply in Redford Charter Township, MI
How many homes are available in Redford Charter Township, MI?
Number of Homes For Sale
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 187 | 217 | +16.0% |
Summary: The Redford Charter Township real estate market had 217 homes for sale in August 2024, a 16.0% increase compared to July 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 15 | 24 | +60.0% |
| 3 Bedrooms | 158 | 175 | +10.8% |
| 4 Bedrooms | 13 | 16 | +23.1% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Redford Charter Township housing inventory by bedroom type for August 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 60%, 3 bedroom homes increased by 10.8%, 4 bedroom homes increased by 23.1%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Jul 2024 | Aug 2024 | CHANGE |
|---|---|---|
| 65 | 46 | -29.2% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Redford Charter Township, you could pay more than the asking price. 52.2% of homes here sold above asking price last month.
Summary: A total of 46 homes were sold or pending in Redford Charter Township in August 2024, down by 29.2% month-over-month. Of the 46 sold homes, 30% were sold under asking, 17% were sold at asking, and 52% were sold over asking.
Days on Market for Redford Charter Township, MI
How long does it take to sell a home in Redford Charter Township, MI?
Average Sale Time
| Aug 2023 | Aug 2024 | CHANGE |
|---|---|---|
| 16 Days | 20 Days | +23.4% |
Summary: Homes in Redford Charter Township had an average of 20 days on market in Aug 2024, up by 23.4% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Redford Charter Township are selling fast, if you're buying plan to act quickly.
Summary: During August 2024, 46 homes were sold in Redford Charter Township; 76% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Provided through IDX via MiRealSource, as the “Source MLS”, courtesy of the Originating MLS shown on the property listing, as the Originating MLS.